Sophie Gamborg Global Property | Expert Interview With Samuel Seeff

Article Summary:

In an exclusive interview with Sophie Gamborg of SGGP, Samuel Seeff, Chairman of Seeff Property Group, provides invaluable insights into the dynamic Cape Town property market. He discusses the market's recovery and projected growth following a period of stagnation, highlighting the exceptional value currently offered to foreign buyers due to the weakening rand.

Seeff also addresses key considerations for international investors, including the ease of purchasing property in South Africa and the importance of expert local guidance from a Buyer's Agent like Sophie Gamborg Global Property.

This Article Covers:

Cape Town Market Evolution & Outlook:
An in-depth look at how the property market, particularly in the mid to upper segments, has performed over the last decade and projections for significant growth over the next five years.

Value for Foreign Buyers:
How the weakening rand creates a compelling value proposition for international investors, making Cape Town properties significantly more accessible.

Investment Prudence Amidst Volatility:
Expert advice on navigating rand volatility, emphasising careful financial planning rather than relying on currency fluctuations for returns.

Ease of Foreign Ownership:
Confirmation that South Africa has no restrictions on foreign property ownership, with straightforward processes for international buyers.

Distinguishing the Cape Town "Bubble":
Understanding the unique and exceptional lifestyle offered within Cape Town's prime areas, separate from broader national perceptions.

The Crucial Role of a Buyer's Agent:
The importance of local expertise for foreign investors, particularly when investing from a distance or seeking properties aligned with specific lifestyle needs.

The Cape Town property market continues to capture international attention, drawing discerning buyers and investors from across the globe.
To gain a deeper understanding of its current trajectory and future prospects, Sophie Gamborg, Founder of Sophie Gamborg Global Property (SGGP), sat down with Samuel Seeff, the esteemed Chairman of Seeff Property Group.
With over four decades at the forefront of South African real estate, Samuel Seeff offers a unique perspective on how this vibrant market has evolved and where it's headed.
This article presents a lightly edited transcript of their candid conversation, providing authentic, first-hand insights directly from one of the industry's most respected voices.
Interview Transcript with Samuel Seeff, Chairman of Seeff Property Group Conducted by Sophie Gamborg
4 May 2025 | Sophie Gamborg Global Property
Sophie Gamborg:
Samuel, thank you for taking the time to speak with me.
You’ve been at the forefront of South African real estate for over 40 years.
How has the Cape Town property market evolved over the past decade?
Samuel Seeff:
If we look specifically at the mid to upper segments — which I imagine are most relevant to your clients — prices in Cape Town were relatively dormant between 2017, when we saw a market peak, and early 2024. There was virtually no growth during that time.
However, since early 2024, we've started to see annual growth of around 6–7%.
What’s important to note is that due to the weakening rand, property here now offers significantly more value to foreign buyers than it did a few years ago.
While many parts of South Africa have stagnated or declined, Cape Town has held its own.
The past year and a half has seen a strong uptick in foreign interest, particularly in the mid to upper markets.
Sophie:
That’s encouraging. If I were a foreign buyer, I’d be optimistic about capital growth but a little cautious about rand volatility.
What's your view?
Samuel:
That’s a good point. My advice is: don’t bring in all your money.
There’s an old saying — “Live in the South, keep your money in the North.”
Don’t expect to get both strong capital appreciation and a strengthening rand.
I’ve seen friends do incredibly well — buying property here when the rand was at 20 to the pound, selling when the market was up and the rand had strengthened to 13 or 14. They effectively doubled their investment.
But that kind of outcome depends on timing and luck.
I wouldn’t advise anyone to invest based on luck — I’d say now is a good time to buy, but be prudent.
Sophie:
Where do you see the Western Cape property market five years from now?
Samuel:
We're on an upward trajectory. The market needs to make up for the capital appreciation it missed between 2017 and 2024. There’s a scarcity of quality supply, particularly in areas close to top schools or those with great views, like the Atlantic Seaboard.
That’s driving demand.
Over the next five years, I wouldn’t be surprised to see price growth of 10%, even up to 50% may be possible over a 5 year period in the most desirable areas — and I’d say that’s a conservative estimate.
Sophie:
Where is the strongest buyer demand coming from?
Samuel:
Domestically, it’s Johannesburg and other major cities. Internationally, we continue to see strong interest from Germany, the Netherlands, and the UK — our most consistent overseas markets.
When other nationalities discover Cape Town, they’ll want prime locations, and they’ll pay for them.
Sophie:
Are there any challenges that a foreign buyer might face in purchasing here?
Samuel:
Actually, buying in South Africa as a foreigner is fairly straightforward. There are no restrictions on property ownership.
You just have to declare your funds. From an investment point of view, foreigners can buy on the same terms as locals — unlike in the UK, where it’s often more expensive for non-residents.
The only limitation is borrowing: foreigners can generally access up to 50% loan-to-value financing.
Visas and residency issues are separate, but that’s where a buyers’ agent like yourself comes in — to help clients connect with the right specialists.
Sophie:
What’s your take on the recent discussion between President Ramaphosa and Donald Trump?
Do events like that impact investor sentiment?
Samuel:
Yes, unfortunately, it did project a negative image of South Africa — particularly in terms of crime and the government’s perceived inability to manage it.
That said, people need to distinguish between the general situation and the specific lifestyle we have in the Cape Town ‘bubble’.
Within that bubble, the lifestyle is exceptional.
Of course, if you go beyond that bubble, the risks increase. But that’s true in many parts of the world.
A friend of mine was held up in London last week — crime happens everywhere.
I would argue Cape Town still offers one of the best standards of living in the world.
Sophie:
For someone making their first investment in Cape Town — perhaps a holiday home or second property — what advice would you give?
Samuel:
If you're planning to live here, I’d suggest staying in an Airbnb or hotel for a couple of months to get a feel for the areas that suit your lifestyle.
Are schools a priority? Do you want to run on the promenade every morning? These things matter.
If you're investing from a distance, then I’d absolutely rely on a buyers’ agent like you — someone who understands the market, the schools, the medical care, the lifestyle, the different neighbourhoods.
I’d make an exploratory visit to narrow down options, and then let the local expert do the groundwork.
If you’re investing millions, spending a week here to get a feel for it is well worth it.
Sophie:
A bit of a lighter one — if you weren’t the Chairman of Seeff, what would you be doing?
Samuel:
I’ve only ever had one job! At university, I coached cricket and soccer for kids, which I loved.
If I hadn’t gone into property, I might have ended up in banking.
Sophie:
Okay, final question: I’m giving you £5 million to buy a property anywhere in the world.
Where are you buying?
Samuel:
(laughs) That’s generous! I’ve never thought about it, but probably Italy — sunshine, history, culture, and warm water.
Samuel Seeff’s insights firmly underscore Cape Town's standing as a resilient and high-potential property market, particularly for foreign buyers and those seeking investment properties.
Despite past market dormancy, the current annual growth of 6-7% and a projected 10-50% growth over the next five years in desirable areas paint a clear picture of an upward trajectory. The value proposition for international investors, bolstered by the weakening rand, is undeniably strong.
However, as Samuel wisely advises, "Don’t expect to get both strong capital appreciation and a strengthening rand". Prudent investment and an understanding of the local nuances are key. This is precisely where Sophie Gamborg Global Property excels.
As your dedicated Buyer's Agent, SGGP provides the essential local knowledge, market expertise, and personalized guidance that Samuel Seeff highlights as crucial for success, especially for those investing from a distance.
Whether you're exploring a holiday home, a second residence, or a strategic investment property in this stunning city, navigating the options requires an expert on the ground.
Sophie Gamborg is committed to helping clients make confident, well-informed property purchases in Cape Town , ensuring you benefit from the city's exceptional lifestyle within its unique "bubble".
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